Peru minister touts Saudi mining interest and Chevron offshore potential
ReutersOct 7, 2025 8:33 PM
SANTIAGO, Oct 7 (Reuters) - Peru's Minister of Energy and Mines Jorge Luis Montero said on Tuesday he expects the country to sign a Memorandum of Understanding (MOU) with Saudi Arabia in November to develop lithium, copper and other strategic mineral projects in the Andean nation.
In an interview with Reuters, Montero also said that offshore oil lots being explored by Chevron CVX.N could reach 250,000 to 300,000 barrels per day or more.
He added that state oil firms Petroperu PETROBC1.LM and Petroecuador are expected to sign a separate MOU on October 24 to link their Amazonian oil lots and supply Peru's Talara refinery with crude from Ecuador.
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